NICTD definition
Examples of NICTD in a sentence
The Parties agree that each West Lake Deficit Cost Submission shall include a completed West Lake Deficit Cost Submission Form attached as Exhibit 8, accompanied by a completed form of Exhibit 6 certified by NICTD.
RDA and IFA will provide to NICTD (updated as necessary) a list of representatives and designees that they identify as “need to know”.
RDA, IFA and NICTD shall timely exchange information with each other as to the types and amounts of all estimated future Project Costs so that they are sufficiently identified and can be included in the cost estimate submitted to and approved by FTA.
NICTD also shall provide RDA a copy of any West Lake Corridor deficit information NICTD provides to the FTA.
NICTD shall bear the costs of all losses or liabilities arising from tort claims for personal injury or property damage asserted by third parties with respect to the Rail Projects that are not covered by insurance, the Indemnitors as provided in Section 7.2.6.1, or another third party, except in the event that IFA and/or RDA exercises Construction Period Step-In Rights and/or IFA exercises Operations Step-In Rights, under Article 11.
All funds provided by RDA and/or IFA to NICTD prior to FFGA Approval shall be limited to payment for Project Costs that are included in the applicable Cost Budget (as amended and updated by written agreement of the Parties), and that also are individually and specifically approved in advance and in writing (both as to the timing and amount of such costs being incurred) by IFA and RDA.
In the event that a payment request is deemed approved, NICTD shall retain the right to transmit the payment request to the Deposit Trustee should IFA not do so.
NICTD shall timely acquire or shall utilize its powers, once the requisite approvals for all aspects of real estate acquisition by RDA and IFA have been provided, including eminent domain and condemnation powers, to timely acquire the Rail Projects Property and shall timely add any such property to the properties leased to RDA under the applicable Lease.
NICTD, RDA and IFA, and their representatives, shall jointly coordinate and participate on all FTA regularly scheduled meetings, conference calls and submittals.
IFA shall be responsible to determine financings, including determining the timing and manner of issuance of the IFA Bonds, and disbursement of financing proceeds to RDA, NICTD or their assignees, as applicable, subject to market conditions.